Fannie Mae and Freddie Mac securitized $285 billion of single-family mortgages during the third quarter, an almost 16 percent drop from the previous three-month period. As for the outlook for the fourth quarter, the industry is nervous.
Fannie Mae and Freddie Mac plan to test parts of a common securitization platform under development by year-end, according to an official at the Federal Housing Finance Agency. The FHFA separately announced this week what it deemed to be “significant steps” for the government-sponsored enterprises’ planned CSP. A year-and-a-half after the federal regulator announced the project, the platform remains a nebulous goal that GSE officials hope to make exceedingly encompassing and flexible. Speaking this week at the ABS East conference in Miami sponsored by Information Management Network, Wanda de Leo, deputy director of the FHFA’s office of strategic initiatives, said...
While standardization was the focus of jumbo investors, perhaps the bigger concern for participants is that most investors said they were looking to buy almost anything other than new jumbo MBS.
The CMC letter follows one sent last night by 15 housing and mortgage-related trade groups to Acting FHFA Director Edward DeMarco, asking him not to lower the GSE loan limit, while questioning the legality of such a change.
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